Biden administration auctions off Gulf of Mexico oil and gas leases.

The Biden administration sold access to 1.6 million acres of waters in the Gulf of Mexico for oil and gas drilling, generating $263.8 million in high bids for 313 blocks of waters. The sale contradicts the administration's pledges to combat climate change and has drawn criticism from environmental groups. However, the administration says it was compelled to open the huge swath of Gulf waters to drilling because of stipulations in the Inflation Reduction Act of 2022. The American Petroleum Institute cheered the sale, calling it "a belated but positive step toward a more energy-secure future."